After its founder filed for personal bankruptcy in the US just last week, Chinese tech startup LeEco has seen its Beijing headquarters put up for sale by the capital’s courts after the electronics-to-video streaming group failed to make payment on… Read More>>
Evergrande Acquires US Electric Vehicle Pioneer Protean
China Evergrande Group has acquired American in-wheel electric motor company Protean for an undisclosed sum, as China’s second largest property developer by sales ramps up efforts to become a leader in the alternative energy vehicle industry.
The Guangdong-based developer made… Read More>>
Singapore New Private Home Sales Jump 52% and More Asia Real Estate Headlines
At the top of today’s real estate news, Singapore’s housing market seems to have already absorbed the shock of the latest government tax measures, with buyers returning to showrooms last month following a dearth of new project launches in October…. Read More>>
Singapore’s UOL Sees Net Profit Slide in Q3 and More Asia Real Estate Headlines
Leading today’s set of real estate headlines from around the region, Singapore’s UOL announced an 85 percent drop in net profit after a recent consolidation, plus the fugitive boss of one of Hong Kong’s largest developers is still free to… Read More>>
Faraday Future Loses Bid to Terminate $2B Evergrande Deal
A request from Jia Yueting’s Faraday Future asking an arbitrator to void its $2 billion investment agreement with a unit of Evergrande Health Industry Group was rejected late last week, keeping the unit of China’s largest property developer by sales… Read More>>
Evergrande’s $2B Investment in Faraday May Have a Limited Future
After enjoying a four month honeymoon following China Evergrande’s June decision to invest $2 billion in his Faraday Future electric car startup, mercurial mainland entrepreneur Jia Yueting is ready to call it quits with his latest white knight.
Evergrande Health,… Read More>>
Sunac China Buys Control of Failing Le Eco Units After Losing $2.6B
China’s fourth largest real estate developer Sunac China Holdings has taken control of two of the three units of Jia Yueting’s financial-troubled LeEco company via court auction, at a price of RMB 773 million. The investment comes after the developer… Read More>>
Evergrande Takes the Wheel at Faraday Future With $2B EV Investment
Mainland China’s second-largest property developer by sales is buying a controlling stake in Jia Yueting’s Faraday Future for HK$6.75 billion ($860 million) as it takes on a commitment to invest some $2 billion in the flailing Los Angeles-based electric car startup.
Evergrande Said to Bet $300M on Jia Yueting’s Faraday Future
Chinese property tycoon Sun Hongbin said he had never regretted anything until he blew $2 billion backing Jia Yueting’s troubled conglomerate LeEco. But the teary-eyed confession by the chairman of Sunac Holdings doesn’t seem to have given rival property baron… Read More>>
Sun Hongbin Resigns as Chairman of LeEco Unit as Mainland Media Firm Fails
Sunac chairman Sun Hongbin has stepped down as the chairman of Leshi Internet Information & Technology, a video streaming subsidiary of mainland new media trainwreck LeEco.
Sun resigned before his term’s expiration date of October 13 due to “job adjustments,”… Read More>>